Real Housewives of Beverly Hills star Kyle Richards’ husband Mauricio Umansky is denying he screwed over a real estate investor out of tens of millions on a deal.
According to court documents obtained by Radar, Mauricio and his company The Agency are taking legal actions against a high-profile agent named Aitan Segal.
The legal drama started back in 2019 when Mauricio sued for fraud over the sale of a $32 million Malibu mansion.
Kyle’s husband and his real estate company The Agency were sued by the former owner of the home. Mauricio was brought on to help the federal government sell the home after it was seized from a man named Teodoro Nguema Obiang Mangue.
The former owner agreed to sell the home with $10 million of the proceeds going to pay a fine to the U.S. government. Mangue was accused of using funds stolen from his home country Equatorial Guinea (Mangue is the son of the president).
Mauricio ended up selling the home to a man named Mauricio Oberfeld for $32.5 million. The sale he presented was approved by the government.
However, the former owner of the home accused Kyle’s husband of failing to disclose that he had partnered with Oberfeld to purchase the home. Mauricio and Oberfeld went on to sell the property for $70 million and profited $37 million.
Mangue says Mauricio screwed him over by not telling him about higher offers that came in and instead made sure to profit himself off the deal. Umansky has denied all allegations of fraud.
He said Mangue’s lawsuit was simply an attempt to take back money he already agreed to pay the United States as part of his federal case. The lawsuit was eventually settled but Mauricio was then sued by an individual named Sam Hakim.
In his lawsuit, Hakim said he had offered to buy the Malibu mansion for $40 million but was told not to put his offer in writing. He claims to have later found out Umansky bought the home for himself and made tens of millions.
He sued for in excess of $35 million in damages. Now, Mauricio has denied all claims brought by Hakim and has filed a countersuit against a real estate agent named Aitan Segal.
Kyle’s husband says Hakim is an “experienced high-end real estate investor” who hired high-end real estate agent Aitan to represent him in negotiating the deal.
However, Umansky says Hakim should be blaming Aitan for any problems.
Umansky says Aitan Segal was, “Hakim’s agent and fiduciary and owed him the highest duties of good faith, honest, and fair dealing. Moreover, as Hakim’s real estate agent Segal was required to put himself in the position of Hakim and disclose material information required for Hakim to make a well-informed decision.”
“Segal failed to advise Hakim to make his alleged $40 million offer on the Property in writing or he otherwise provided advice and recommendations that breached his fiduciary duties to Hakim,” his suit reads.
Umansky does deny the $40 million offer but was never made but still says Aitan should be liable for any damages. Aitan denies all allegations of wrongdoing and is demanding the countersuit be tossed.